King & Wood Mallesons has advised private equity firm Seaya Ventures on the launch of Seaya Andromeda Sustainable Tech Fund I, its new venture capital vehicle in collaboration with Iberdrola, Fond-ICO Next Tech and Nortia Capital, Manuel Lao’s investment vehicle. It is the first major technological fund in Spain to accelerate the energy transition and sustainability.
Seaya Andromeda, which already has investment commitments for up to €130 million, has a final target size of €300 million and will invest mainly in European growing companies (scale-ups) related to sustainability, energy transition, electrification of the economy, sustainable agriculture and the circular economy.
The team of KWM lawyers that has participated in this project has been led by partners Isabel Rodríguez (Funds) and Germán Cabrera (Corporate). Other lawyers who have collaborated in this work are the associates María Mata (Funds), Fátima García de la Torre (Corporate) and Laura Varela (Corporate).
Seaya Ventures is one of Europe’s leaders in venture capital, with stakes in Cabify, Glovo and Wallbox. Seaya has a long history of investing in technology companies in the energy, circular economy and agritech sectors.